Pennsylvania Governor Josh Shapiro has declared that the Commonwealth has secured a $20.3 million investment from Mitsubishi Chemical Advanced Materials to enlarge the company’s operations in Berks County.
The move is anticipated to generate 42 new jobs over the next 3-years even as maintaining 441 existing full-time positions in Pennsylvania.
The Shapiro Administration is supporting the venture with a $500,000 Pennsylvania First grant through the Department of Community and Economic Development (DCED).
The expansion will change Mitsubishi Chemical Advanced Materials’ current facility at 2120 Fairmount Avenue in Reading through site renovations, construction of an adjacent facility, and the installation of latest machinery and equipment.
The investment will guide the company’s production of specialty engineering thermoplastics and advanced composite materials.
“Mitsubishi’s decision to double-down on Pennsylvania and amplify their operations right here is going to form more opportunity in Berks County – and it’s another reminder that we’re making real development and economic development,” stated Governor Shapiro.
“My Aladministration is devoted to investing in our talented, skilled workforce, cutting red tape, removing permit backlogs, and developing shovel-ready sites for companies that need to move or expand in Pennsylvania. We are going to persist to make these types of strategic investments in economic growth to help Pennsylvania businesses and workers and keep our Commonwealth moving forward.”
Managed via the Governor’s Business PA team, the venture obtained a funding proposal from DCED for the Pennsylvania First grant to assist Mitsubishi Chemical’s persisted growth within the Commonwealth.
DCED Secretary Rick Siger visited the Reading facility to mark the enlargement and emphasize the company’s investment in Pennsylvania’s production future.
“Pennsylvania is securing major production investments because the Shapiro Administration makes it easier for companies to prevail here,” stated Secretary Siger. “Mitsubishi Chemical Advanced Material’s expansion in the City of Reading is generating new job opportunities, reinforcing Pennsylvania’s production sector, and strengthening the Commonwealth’s reputation as a tremendous place to do business.”
‘This investment shows Mitsubishi Chemical’s long-term commitment to Pennsylvania and broadening advanced production in the area,” stated Daniel Barish, President of Mitsubishi Chemicals Advanced Materials Americas.
“By establishing a Center of Excellence for the extrusion of general and advanced engineering plastics, we are reinforcing our innovation capabilities while generating high quality jobs and new opportunities for local communities. We recognize the partnership with the Commonwealth and look ahead to contributing to sustained economic growth throughout the region.”
